What Is MT940 Format?
MT940 is an electronic bank statement format defined by SWIFT (Society for Worldwide Interbank Financial Telecommunication). Despite being a banking industry standard since the 1990s, MT940 remains the dominant format for importing bank statements into enterprise ERP systems — and it is the format most large businesses use for automated bank reconciliation in SAP, Oracle, and similar platforms.
An MT940 file is a structured plain-text file where each piece of information is identified by a tag (a colon-delimited code like :61: or :86:). ERP systems read these tags to identify transaction dates, amounts, references, and narrative descriptions and map them to their internal bank transaction posting logic.
MT940 File Structure — Tags Explained
Understanding the MT940 tag structure helps you verify the output is correct before importing into your ERP:
:20:BSTMT0001 ← Transaction reference (your reference)
:25:GB29NWBK60161331926819/GBP ← Account number / BIC / currency
:28C:00001/001 ← Statement number / sequence number
:60F:C260501GBP5000,00 ← Opening balance (C=Credit/D=Debit, date, currency, amount)
:61:2605030503CR500,00NTRFPAY001← Transaction: date, credit/debit, amount, type, reference
:86:SALARY PAYMENT ACME CORP ← Narrative / description for the transaction above
:61:2605070607DR299,00NTRFSHOP ← Next transaction
:86:AMAZON PURCHASE ← Its narrative
:62F:C260531GBP5201,00 ← Closing balance
The key tags in every MT940 file:
- :20: — Transaction reference number (your unique identifier for this statement file)
- :25: — Account identification (IBAN, account number, or BIC + account number + currency)
- :28C: — Statement number and sequence number within the statement
- :60F: — Opening balance (F = final, M = midday). Format: C/D + YYMMDD + Currency + Amount
- :61: — Individual transaction line. Format: YYMMDD + MMDD(value date) + C/D + Amount + Transaction type code + Reference
- :86: — Supplementary transaction details / narrative (free text, up to 6 × 65 chars)
- :62F: — Closing balance (same format as :60F:)
How to Convert PDF to MT940 — 3 Steps
1
Download PDF
Get your bank statement PDF from internet banking or the bank's mobile app
2
Upload & Select MT940
Upload the PDF above, choose MT940 (.sta) as the output format
3
Download & Import
Download the .sta file and import directly into SAP, Oracle, or Navision
Who Uses PDF to MT940 Conversion?
SAP Users — Electronic Bank Statement Import
SAP's Electronic Bank Statement (EBS) module is the primary use case for MT940. SAP accepts MT940 files via transaction FF_5 or FEBAN. When a bank does not provide an automatic MT940 feed, finance teams must download the PDF statement and convert it to MT940 for manual import. Our converter eliminates the intermediate manual step.
Microsoft Dynamics NAV / Business Central
Microsoft Navision (now Business Central) supports MT940 import via the Bank Statement Import feature. Users who bank with institutions not connected to the built-in banking APIs can use PDF to MT940 conversion to maintain automated reconciliation workflows.
Oracle E-Business Suite & Oracle Fusion
Oracle's Cash Management module accepts MT940 for bank statement loading. Multi-bank, multi-currency treasury teams who receive statements from international banks in PDF format use this converter to standardise all statements into a single MT940 import stream.
Tally ERP via Plugins
While Tally's native bank reconciliation uses Excel import, several Tally plugins support MT940 for larger implementations. See our bank statement to Tally guide for details.
MT940 vs Other Formats for ERP Import
Frequently Asked Questions
What is MT940 format?
MT940 is a SWIFT standard for electronic bank statements. It is a structured text file with tagged fields used by ERP systems (SAP, Oracle, Navision) to import bank transaction data. Tags include :20: (reference), :25: (account), :61: (transactions), :86: (narratives), :60F:/:62F: (balances).
Who uses MT940 format?
SAP users (FF_5/FEBAN), Microsoft Dynamics NAV/Business Central users, Oracle Financials users, and companies with treasury management systems requiring daily electronic bank statements in SWIFT format.
How do I convert a PDF bank statement to MT940?
Upload your PDF to Bank Statement Engine, select MT940 as the output format, and download the .sta file. The converter extracts all transactions and generates a correctly tagged MT940 file.
What banks are supported?
10,000+ banks worldwide. Any bank that issues PDF statements is supported — major US, UK, EU, Indian, Australian, and Middle Eastern banks included.
What is the file extension for MT940 files?
Typically .sta (most common for SAP/ERP import). Some systems also accept .mt940 or .txt. Our converter downloads as .sta.
Can I import the MT940 file directly into SAP?
Yes. Use transaction FF_5 or FEBAN in SAP. Ensure the house bank and account ID in SAP match the account number in the :25: tag of the MT940 file.
What is the difference between MT940, CSV, OFX, and QBO for ERP import?
MT940 is the standard for enterprise ERP (SAP, Oracle, Navision). CSV is universal but needs field mapping. OFX and QBO are for mid-market accounting tools like QuickBooks. For SAP/Oracle, always use MT940.
Does the MT940 converter support multi-currency?
Yes. The original currency from your bank statement is preserved in the MT940 currency fields within :60F:, :61:, and :62F: tags.
Is the PDF to MT940 converter free?
Yes — completely free. No signup, no page limits, no watermarks. Convert as many PDFs as needed.
What ERP systems accept MT940?
SAP ECC and S/4HANA, Oracle E-Business Suite and Fusion, Microsoft Dynamics NAV/Business Central, Sage 50/200/X3, UNIT4, and most enterprise ERP systems with bank reconciliation modules.
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